S&P assigns Home Depot notes A

Standard & Poor's said it assigned its A issue-level rating to Home Depot Inc.'s proposed $2.5 billion senior unsecured notes due 2022 and 2046.

The agency expects the company to issue the proposed notes under its shelf registration statement filed Aug. 24, 2012.

Net proceeds will be used for general corporate purposes including share repurchases.

S&P estimates that pro forma for the proposed issuance and debt repayment, Home Depot will have about $24.5 billion of adjusted debt outstanding, resulting in leverage of about 1.7 times.

Home Depot’s A corporate credit rating and stable outlook are unchanged.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.